Proposed digital euro designs lack privacy options, ECB presentation shows
Transactions via the EU’s prospective CBDC could be transparent to intermediaries, as any non-crypto digital transactions are. Go to Source Powered by WPeMatico
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Eurosystem Seeks Providers of Prototype Payment Solutions for Digital Euro
Eurozone’s monetary authority, the Eurosystem, is looking to enlist financial companies willing to develop front-end solutions for the digital euro. The plan is to carry out a “prototyping exercise” this year to test transactions to the back-end developed by the regulator. Eurosystem to Select Front-End Providers for Digital Euro Project Within the ongoing investigation into … Read more
Top ECB Official Ramps Up Anti-Crypto Rhetoric, Calls for Global Regulations
Comparing the rise of crypto assets to the gold rush, a top executive at the European Central Bank has urged governments to take action to prevent “a lawless frenzy of risk-taking.” Speaking in the U.S., the ECB official called for a global regulatory clampdown on cryptocurrencies and stepping up efforts to issue central bank digital … Read more
ECB official suggests importance of physical stores accepting digital euro
Findings from the ECB’s focus groups said the public was more likely to accept a digital euro accepted in physical and online stores and allowed easy person-to-person payments. Go to Source Powered by WPeMatico
ECB Chief Lagarde Says Digital Euro Will Not Replace Cash — But Could Offer Convenient, Cost-Free Means of Payment
The president of the European Central Bank (ECB), Christine Lagarde, says that a digital euro will not replace cash but would complement it. “A digital euro would give you an additional choice about how to pay and make it easier to do so, contributing to accessibility and inclusion,” the ECB explained. Digital Euro to Complement … Read more
European Commission to Launch Digital Euro Consultations in March, Propose Bill Early Next Year
The executive arm of the EU is gearing up to start public consultations on the digital euro project next month. The European Commission will also prepare new legislation to establish the legal basis for the digital version of the common European fiat. A draft is expected in 2023. EU Finance Chief Announces Legislative Plan for … Read more
Central Banks of France, Switzerland and BIS Complete Cross-Border CBDC Trial
Bank of France, the Swiss National Bank (SNB), and the Bank for International Settlements have successfully tested the application of wholesale central bank digital currency in cross-border payments. The project used distributed ledger technology and was realized with help from private firms. France and Switzerland Explore Direct Transfer of Euro, Swiss Franc Wholesale Digital Currencies … Read more
Central Banks of France and Switzerland announce successful trial of digital Euro, Swiss Franc
Although the project was a success, the central banks warned that significant rulebooks, contingency procedures, and monitoring capabilities were needed to ensure the success of a CBDC. Go to Source Powered by WPeMatico
Digital Euro Should Be Attractive But Not ‘Too Successful,’ ECB’s Panetta Says
The digital euro should be an attractive means of payment but its design should prevent it from becoming so successful as a store of value that it threatens banks and private money, according to Fabio Panetta, a high-ranking executive at the European Central Bank. Panetta stressed that both this paradox as well as the need … Read more
European Central Bank announces digital euro advisory group members
The group consists of 30 high-ranking financial professional from organizations including BBVA, CRIF and Stripe, among other Go to Source Powered by WPeMatico
